Gold Road inks JV deals

MID-TIER Gold Road Resources has entered into two earn-in JV arrangements with Cygnus Gold to explore acreage in South West WA.

Gold Road can earn up to a 75 per cent interest in two large tenement holdings covering 3400sqkm in the Wadderin and Lake Grace greenfields exploration projects.

“We believe this a potentially new gold district in an area of WA which has been neglected for many years,” Gold Road exploration and growth executive Justin Osborne said.

Gold Road would also subscribe for $750,000 in shares in Cygnus’ upcoming initial public offering (IPO) later this year.